A shopper exits a Nike store in Chicago’s bustling Magnificent Mile shopping district, proudly carrying a purchase. (Image credit: Scott Olson | Getty Images)
Discover the most significant movers in premarket trading.
Nike — Shares of the renowned sports apparel giant fell by nearly 3% after reporting an uncharacteristic earnings miss, breaking a streak of three profitable years. Nike’s fiscal fourth-quarter earnings per share came in at 66 cents, slightly below the estimated consensus of 67 cents according to Refinitiv. However, the company managed to surpass revenue expectations.
Apple — Apple shares rose by 0.8%, putting the tech giant on a trajectory toward reaching an unprecedented $3 trillion market capitalization. This surge followed Citi’s establishment of a new price target for Apple shares, setting it at a Street-high price of $240.
Carnival — In premarket trading, shares of the cruise line surged by 3% after Jefferies upgraded Carnival from “hold” to “buy.” This decision was based on positive changes made during the first year of new CEO Josh Weinstein’s tenure and the improved leverage of the company.
Savers Value Village — After a remarkable 27% jump on its first day of trading, shares of the largest for-profit thrift operator in the U.S., Savers Value Village, slipped by 2% in the premarket. The initial stock pricing was set at $18, and it closed at $22.91.
Dominion Energy — Shares of Dominion Energy declined by nearly 2% after the company revised its second-quarter operating earnings guidance range. The revised range is now 44 to 50 cents per share, down from the initial estimate of 58 to 68 cents per share. Dominion Energy attributed this adjustment to the exceptionally mild weather and unexpected outages at the Millstone Power Station.
Constellation Brands — The owner of Corona and Pacifico, Constellation Brands, experienced a 1.6% decrease in its stock price despite surpassing earnings estimates. Its first-quarter adjusted earnings per share stood at $2.91, exceeding analysts’ expectations of $2.83 according to StreetAccount. However, revenue reached $2.52 billion, just above the projected $2.47 billion.
Freyr Battery — Following an 11% increase on Thursday, the stock of Freyr Battery soared an additional 5% in premarket trading. The company received an upgrade from Morgan Stanley, increasing its rating from equal weight to overweight.
— Reporters Samantha Subin, Jesse Pound, and Alex Harring contributed to this article for CNBC.
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